ICICI: The bank that Kamath built KV Kamath, CEO and managing director of ICICI Bank, is due to step down sometime next year. In the 12 years or so that he has been at the helm of affairs, the bank has more than cashed in on a huge growth opportunity.

Naresh Goyal is his own worst enemy While the mishandling of the Jet Airways sacking and reinstatement of 1,900 employees was an HR and PR disaster, the larger implications of what happened are also worth considering.

Markets in shock, rupee at all-time lowThe global stock markets are in total disarray. US, Europe, Asia, everywhere stocks are plunging. Meanwhile, the rupee slipped to its all-time low of 49.68 against the US dollar in early trade on Thursday.

MNS protests: Retailers bear the brunt Protests following the arrest of Maharashtra Navnirman Sena chief Raj Thackeray on Tuesday crippled retail businesses in and around Mumbai, the commercial capital of the country.

Prosperity? India ranks poor 70 The quality of secondary education, the cost of starting a business and the lack of government effectiveness are
among the reasons why India has been ranked 70 among 104 nations on the World Prosperity Index 2008.

Does Capitalism have a future?Washington's partial nationalization of banks marks a fundamental shift in thinking about the relationship of the public and private sectors

After 61 years, India, Pak being cross-LoC trade! Sixty-one years after the breakdown of trade ties between the two parts of Jammu and Kashmir, India and Pakistan scripted yet another historic chapter in bilateral relations on Tuesday by launching truck services along the Poonch-Rawalakote route.

Growth in focus: Interest rates may fall For those losing over skyrocketing interest rates and swelling inflation, here is a piece of good news. Home, consumer, corporate and personal loans are likely to become cheaper with the Reserve Bank cutting its key short-term repo rate by 1 per cent to 8 per cent, the first since 2004, bankers said.

Who really got Jet staff reinstated?While hundreds of Jet Airways employees, who had been summarily sacked by the airline in a bid to cut costs, celebrated their reinstatement on Friday, many politicos jumped into the fray to claim credit for the Jet staff's victory.

Falling skies: AI may lay off 15,000; Jet blasted Sympathising with the sacked Jet Airways employees, Civil Aviation Minister Praful Patel on Thursday said he would hold talks with all airlines to find a way out of the downturn in the industry caused by high fuel costs and economic slowdown.

Global Hunger Index: India ranks a poor 66th The global financial crisis is exacerbating concerns about surging food and fuel costs, which has pushed 75 million into poverty, the United Nations chief said on Wednesday, terming the turmoil a 'colossal human tragedy'.

Indian aviation crashing: Hundreds to lose jobsIndia's aviation industry is in the doldrums. And even as Civil Aviation Minister Praful Patel inaugurated 'India Aviation 2008,' the four-day, first of its kind exhibition on the civil aviation sector in India, at Begumpet Airport in Hyderabad on Wednesday, the order of the day in the industry seems to be jobs cuts, cost cuts, cry for bailout packages, consolidation, etc.

Sensex slips below 11K againIndian investors having slept easy for the last couple of days had frayed nerves again on Wednesday with Sensex taking a sharp downturn.

How Modi brought the Nano to GujaratThough most people expected Tata Motors to select either Andhra Pradesh or Karnataka for its Nano project, it was clear that Gujarat Chief Minister Narendra Modi had done the impossible and coming from nowhere bagged the prestigious project.

These Wall St bosses took home over $1 bn!The total take-home pay of the 12 bankers, current and former chiefs of some of the biggest names in the US financial space, stands at $1,053.15 million during 2003-07.

In the tea business? What you need to knowA tea estate can be a lucrative profession if you follow certain rules. Else, profit withers. Here are tips from successful tea estate owners on how to run the tea growing business.

Sensex sinks; Japanese markets at 20-year lowWith the markets crashing, it is natural for you to be unnerved, but panicking will not help. Actually it's a once-in-a-lifetime opportunity to buy good stocks with strong fundamentals, but be very careful while doing so.

Why Adlabs is expanding so rapidlyAdlabs Films Limited, a part of the Reliance Anil Dhirubhai Ambani Group, is India's fastest growing film entertainment company. It is India's largest cinema chain, and boasts of over 390 screens spread not just in India,but also in the United States and Malaysia.

Outlander is here! Check it outFor all those who are willing to shell out more than Rs 20 lakh (Rs 2million) for a vehicle, and for all those who love to drive to places where ordinary vehicles do not go, there is good news. One more SUV is out in the market. This time it is the joint venture of Hindustan Motors and Mitsubishi Motors: the Mitsubishi Outlander.

October 07, 2008

Tata Nano finds home in Gujarat; launch soonWith Tata Motors pulling out their Nano project from West Bengal, a race is on amongst many Indian states to get hold of the prestigious project. States are wooing the Tatas all out for the Nano plant. In the forefront of this race are Gujarat, Karnataka, Andhra Pradesh and Maharashtra.

Shaky markets? Dos and Don'ts for you!With the markets crashing, it is natural for you to be unnerved, but panicking will not help. Actually it's a once-in-a-lifetime opportunity to buy good stocks with strong fundamentals, but be very careful while doing so.

Sensex too quivers amid global financial mayhemWith the markets crashing, it is natural for you to be unnerved, but panicking will not help. Actually it's a once-in-a-lifetime opportunity to buy good stocks with strong fundamentals, but be very careful while doing so.

October 06, 2008

Best nations to do business in; Pak ahead of IndiaIndia slipped two notches to 122nd rank, below neighbours, including Nepal, Bangladesh and
Pakistan in the 'Doing Business Report 2009' recently prepared by the International Finance Corporation and the World Bank.

Management gems from Richard BransonRichard Branson, the man who entered businesses because he believed he could do it better, or because he thought the existing players were short-changing customers, has interesting business mantras that he lives by.

Superfast trains for industrial corridorThe Delhi-Mumbai Industrial Corridor Development Corporation has identified four 'early bird' rail infrastructure projects, including a high-speed rail link between Delhi and Jaipur, at an investment of over Rs 20,000 crore.

Meltdown: Thousands of jobs to go globally!The crisis in the financial services industry could cost up to an estimated 40,000 jobs in the securities industry in New York alone. Thousands more will lose their job in the rest of the world.

Death on a tea estateDespite over 200 starvation deaths in the last five years, are the West Bengal authorities aware of the extent of the Ramjhora Tea Estate's problems? Are the workers neglected? Here’s what the officials have to say.

No bailout: Markets crash across the worldWith the US House of Representatives rejecting the $700 billion emergency rescue package intended to bail out bankrupt American financial institutions, markets across the world went into a freefall.

Don't panic, bank is strong, ICICI tells customersStung by rumours that it was passing through a troubled phase, ICICI Bank on Tuesday asked its customers not to panic, saying rumours about the financial strength of the bank are baseless and malicious.

Oscar Fernandes, the hard-working labour ministerIt is a measure of the popularity of Labour and Employment Minister Oscar Fernandes among his colleagues and his closeness to party chief Sonia Gandhi that his statement linking excessive use of contract labour with the lynching of L K Choudhary (CEO of an Italian auto-parts manufacturer in Greater Noida) didn't get played up beyond a point.

Projects that ran into trouble in West Bengal West Bengal has an unenviable record of running into controversial industrial projects. No decade passes by without a lot of song and dance over a new project that is expected to change its economy and the lives of its people

Why Pepsi wants to become healthy CEO Indra Nooyi has sensibly managed to do is provide a tangible strategic direction to inchoate good intentions and put PepsiCo's money where the idealism is. In doing so, she is demonstrating to the world that corporate activity and social responsibility need not be conflicting aims.

What is subprime crisis? How it caused financial mayhem?The term subprime lending refers to the practice of making loans to borrowers who do not qualify for market interest rates owing to various risk factors, such as income level, size of the down payment made, credit history, and employment status.

Check out the smarter Ford Endeavour!Ford India, in its 12th year of operation in the country, has a variety of models: Ikon, Fusion, Endeavour and Fiesta. The company is offering something interesting for the festive season.

Disability no hurdle to economic freedom Perfumed candles, microwaveproof leaf plates, trendy clothes and accessories, all these and more are being made by people with autism, multiple disabilities and are sold in obscure locations across the country.

Poor women turn tourism entrepreneurs in KeralaMaking their presence felt in the field of tourism, women from the weaker sections of society in Kerala are transforming themselves as entrepreneurs, supplying a range of products to hotels and resorts.

Why the rupee is falling against the dollarSince August 1, the Indian rupee has lost 8.5% against the US dollar. Why is this happening? Why is the dollar strengthening, despite the turmoil in the US markets? Here's why. . .

September 22, 2008

Reliance to supply 40% of India's gas, oil!Indian petrochemicals giant Reliance Industries Ltd will account for about 40 per cent of the country's energy production in the next 18 to 24 months, putting the company on track to earn a quarter of its profit from oil and gas production, from 5 per cent now.

Sensex on steroids, but financial storm not over!Lehman Brothers is not more. Merrill Lynch has gown down the Bank of America maw. AIG too could go belly up. With a doubt, these developments in America are the most shocking events to have hit global financial markets. So where did it all begin? And what does it mean for the Indian stock markets?

Nokia 6210 -- a mobile with a brain!Lehman Brothers is not more. Merrill Lynch has gown down the Bank of America maw. AIG too could go belly up. With a doubt, these developments in America are the most shocking events to have hit global financial markets. So where did it all begin? And what does it mean for the Indian stock markets?

The Indian behind Intel's super chipWhen Intel launched its first six-core x86 microprocessor - a high-end processor to crunch huge amount of data - designed and developed by its Indian team, there was relief at its India office.

McCain's economic advisor Fiorina benched after gaffeShe was named the world's most powerful businesswoman for seven years in a row. She ran an empire as the chief executive officer of IT major Hewlett Packard before being sacked in 2005. And now Carly Fiorina, who is US Republican Presidential candidate John McCain's chief economic advisor, has again been benched. This time she was benched for her remarks on McCain himself and his running mate Sarah Palin.

America's largest bankruptciesWe present an overview of what happens when big corporations are headed by either bad CEOs who failed to take the right decision at the right time, or greedy bosses who played cat and mouse with their employees and shareholders.

11.2 million % inflation! How is Zimbabwe surviving?Zimbabwe's inflation rate has just touched a stratospheric level of 11.2 million per cent! Yes, 11.2 million per cent, the highest in the world's history! Compare that to the rate of inflation in India -- which is hovering at the 12 per cent level and causing so much turmoil for Indians as the cost of commodities rises sharply -- and perhaps you can put things in proper perspective.

September 17, 2008

Financial tsunami swamps the worldLehman Brothers is not more. Merrill Lynch has gown down the Bank of America maw. AIG too could go belly up. With a doubt, these developments in America are the most shocking events to have hit global financial markets. So where did it all begin? And what does it mean for the Indian stock markets?

September 16, 2008

Why Lehman Bros went bust; what it means for youLehman Brothers is not more. Merrill Lynch has gown down the Bank of America maw. AIG too could go belly up. With a doubt, these developments in America are the most shocking events to have hit global financial markets. So where did it all begin? And what does it mean for the Indian stock markets?

Investors in IPOs lost over Rs 5,000 cr in 2008 A series of events in United States, including Bank of America agreeing to buy Merrill Lynch for $44 billion and Lehman Brothers' move to file a bankruptcy protection, has shaken up the global financial markets.

Nokia's N96 at Rs 34,999!Chinese personal computer (PC - both desktop and laptop) manufacturer Lenovo wants to concentrate on growing its desktop business in India.

Indra Nooyi's mantras for successAmong the most watched leaders in the world of business, Indra Nooyi has made it to the top without a 'godfather.' Here, gleaned from her various speeches, interviews and quotes, are her mantras for success.

September 11, 2008

AP plan: Turn 1 crore women into millionairesThe United Progressive Alliance chairperson Sonia Gandhi on Thursday launched an interesting scheme of the Andhra Pradesh government to make 1 crore (10 million) women in the state a millionaire in next five years.

Google's amazing journeyThe $19 billion search giant Google is just ten years old , but it has outclassed its competitors

September 09, 2008

Indra Nooyi eats, drinks and lives PepsiThe economic recession may have led to many consumers cutting on their cola intake, but not its Indian-origin chief Indra Nooyi who takes the company's products in almost all her meals from breakfast to dinner.

India's 15 best cities for IT-BPO growthA study -- conducted jointly by the National Association of Software and Services Companies (Nasscom) and global management consulting firm A T Kearney -- has identified 50 cities in India that are good for the IT-BPO industry.

Why BPOs in India fail to retain good peopleThe country's outsourcing industry isplagued by highest level of attrition at 23.5 per cent, which is about 7.8 percentage points higher than other industries, a recent report has said.

Tatas shocked by Singur deal; to suspend workThe controversy over the Tata Nano plant in Singur refuses to die down. Minutes after reports emanating from West Bengal indicated that the Singur impasse had finally come to an end with Tata Motors 'agreeing to give land,' the Tatas have expressed distress at the 'limited clarity on the outcome of the discussions between the state government of West Bengal and the representatives of the agitators in Singur.'

Honda Civic vs VW Jetta: Which is better?Would you spend Rs 13.49 lakh, ex-showroom, Mumbai on the Civic V AT - the fully loaded and most expensive Civic - or does it make sense to save 30 grand, exercise your left foot and buy the Volkswagen 1.6 Jetta Trendline?

September 05, 2008

India's most and least corrupt statesIndia has a dubious distinction when it comes to corruption as indicated by Transparency International. Now find out which are India's most and least corrupt states.

How land deal woes hit India's biggest projectsFrom the Tatas giving up on Singur to farmers in Haryana demanding more from an SEZ developer, land acquisition has been industry's worst nightmare in the past few years. We analyse what went wrong in some of the biggest projects that have hit the land-purchase roadblock.

Tatas to exit Bengal if protests continueEven as work at the Nano factory at Singur came to a grinding halt on Friday, the sixth day of the indefinite dharna being observed by the Trinamool Congress, the Tatas said they would pull out the Nano project from West Bengal if the protests roll into the second week.

The top 10 email scams Even if you are savvy enough to have set your filters in place, or have become adept at hitting the delete button, here are the top email scams you need to beware of.

New luxury train to cost Rs 25 lakh per trip! Riding on the stupendous success of Palace on Wheels, one of the top 10 luxury trains of the world, the Railway Ministry in close coordination with Rajasthan will be launching a second super luxury train in December.

Skoda emerges India's most popular carFor a second time in a row, Skoda, a unit of German car maker Volkswagen, topped the customer satisfaction survey in JD Power Asia Pacific 2008 India Sales Satisfaction Index study.

Ratan Tata's words of inspirationRatan Naval Tata has been called many things. Quiet. Reticent. Humble. A businessman par excellence. Tenacious. And a tiger, when pushed to the wall. Here are some more inspirational words of wisdom from a titan of India's business world.

India's biggest media firms Here is a list of some of the companies that have listed on Indian stock exchange. We have not ranked them; they are merely presented in random order.

How Lalu's magic helped the RailwaysLalu Prasad Yadav seldom misses an opportunity to tell the world how he has filled the empty coffers of the Indian Railways in the last four years without raising passenger fares even once.

August 23, 2008

Singur farmers don't want Tatas to leaveIn a fresh twist to the controversy over the Nano car project in Singur, farmers whose land had been acquired for the plant have said they do not want Tata Motors chairman Ratan Tata to pull out, a day after he threatened to leave West Bengal.

The Detroit of South Asia turns 369!In less than two decades, Chennai has emerged as the second most important hub for the automobile sector in India, competing with the Pune-Pimpri region in Maharashtra.

Tata threatens to pull out of West BengalTata Group chairman Ratan Tata on Friday threatened to pull out the 'Nano' car project from Singur in West Bengal 'if violence against the Tata employees continues.'

The world's top 10 spammersIndia is one of the top 10 spammers in the world and it accounts for 2.99 per cent of global spam. The country is the world’s 9th largest spammer, and as its Internet infrastructure improves with rising prosperity the amount of spam or unsolicited e-mails emerging from India too is likely to multiply.

High iPhone prices may queer the pitch for AppleAs Apple is set to launch the iPhone in the world's third largest mobile market, India, analysts aver that Apple's pricing - a well-guarded secret - is the key to snatching away the market share from Nokia.

More billionaire college dropouts!Are college dropouts more successful than people with good education? It would seem so if you consider that many billionaires are people who dumped college. However, what this hides is the fact that although millions quit studies before completing them, very few of them go on to become rich.

Get an iPhone for Rs 31,000Indian consumers, who have waited for months to own the iconic 3G-enabled Apple iPhone, will have to pay Rs 31,000 for the entry-level 8GB memory mobile phone and Rs 36,100 for a model with double the memory.

Trade bandh: 80 strikes in 6 months!Millions of workers affiliated to the Left parties-controlled Centre for Indian Trade Unions struck work today in what is termed as the 'largest ever strike organised by the trade union movement'.

Billionaire college dropouts!Are college dropouts more successful than people with good education? It would seem so if you consider that many billionaires are people who dumped college. However, what this hides is the fact that although millions quit studies before completing them, very few of them go on to become rich.

How good is this pay hike of 21%?The United Progressive Alliance government on Thursday announced an average increase of 21 per cent in salaries of over 50 lakh government employees with effect from January 1, 2006, adopting the Sixth Pay Commission recommendations.

The 30 titans in Dow Jones' India indexIt's a list of 30 companies, a list that has been vetted by the venerated Dow Jones and headlined the India Titans Index. This index is expected to aid financial institutions that are interested in investing in India.

Why US could lose tech edge to India The United States may be synonymous with the high-tech revolution, but it is fast losing its edge in science and technology, fear US corporate bosses, sociologists, educators and some politicians.

TCS, Infy, Wipro to be IT megavendors by 2011Tata Consultancy Services, Infosys Technologies, and Wipro Technologies, collectively referred as 'India-3,' will emerge as the next generation of IT service megavendors, according to Gartner, Inc.

A lot to look forward to for India's paints industryIn an interview to rediff.com , Anuj Jain, vice president, Kansai Nerolac Paints Ltd, talks about the industry as a whole and also about the company's Spring Summer 2008 Collection-Renewal charted by fashion designer Manish Malhotra.

India's 10 cities with highest household incomesSurat households are the most prosperous in India, says a study jointly conducted by the National Council of Applied Economic Research's Rajesh Shukla and Future Capital Research's Roopa Purushothaman.

The Jaguar XK is 60!In 1948, Jaguar created what would become one of the most famous automotive names in the world, as the all-new and highly advanced XK engine made its debut in the revered XK120 sports car.

Garuda, the car that runs 180 km per litre!Garuda, the car that offers a mileage of almost 200 kilometers to a litre of petrol? Yes! It's neither a pipedream nor a gadget out of a science fiction flick. It's a car that has been developed by a group of mechanical engineering students from the Rashtriya Vidyalaya College of Engineering, Bangalore.

How the $100-laptop dream can transform IndiaNicholas Negropante, head of One Laptop Per Child, is back in India to promote his product: an affordable, rugged laptop made for the most marginalized of students. The XO laptop costs less than Rs 8,000.

August 06, 2008

Global CEOs sprint to the Beijing GamesWhile the competition for the medals will be intense in the Beijing Olympic Games, there will be another, equally interesting battle played out in the sidelines. In a bid to woo the Chinese, and increase their footprint in the coveted Chinese market, multinational companies and business leaders are doing whatever they can to be associated with the Games.

World's 10 top management gurusThe most influential living management guru in the world is C. K. Prahalad, according to The Thinkers 50 biennial poll of business thinkers.

All about 3G and what it means for you On August 1, 2008, India joined the elite list of countries to announce a policy for third generation mobile service that will enable customers to enjoy voice, video, data and downloading facilities on their mobile phones.

How Indian animation industry can be a star Toonz Animation India is rated as the number one animation studio in Asia. Situated at the Technopark in Thiruvananthapuram in Kerala, the studio can boasts of many an achievement. P Jayakumar, chief executive officer, Toonz Animation India, in an exclusive interview, talks about the studio and its various prestigious projects.

Tulsi Tanti on Suzlon, life, and business Tulsi Tanti, the 51-year-old chairman and managing director of Suzlon Energy, says the cancellation of an order for turbines by Edison International, California's largest utility owner, turned out to be a win-win situation for both parties.

Work ethics: How Indian cities fareTeamLease Services, India's largest staffing company, released the 4th survey in the series of 'World of Work' surveys to understand the changing scenario at workplaces in India.

UN goes green; cuts on air-conditioning The culture of stiff collar and smart suits in summer might be over at the United Nations as it ratchets up thermostat on weeks days and completely shuts down the air-conditioning during weekends to help reduce greenhouse gas emission and save $1 million.

10 wonderful stocks to invest inNow, if valuations are also reasonably attractive, it makes a strong case for investment. Here are 10 companies that offer healthy dividend yields and good potential for upside over the next 12-15 months.

How the WTO talks collapsedAmidst tense moments, the nine-day World Trade Organisation talks collapsed on Tuesday as India and China refused to come under American pressure to yield on the issue of giving safeguards to farmers against surge in imports.

The world's largest economiesThe Indian economy is the 12th largest in the world. That is, India's gross domestic product stands at $1.171 trillion.

July 28, 2008

Will these super cars come to India?A concept car or show car is a car prototype made to showcase a concept, new styling, technology and more. They are often shown at motor shows to gauge customer reaction to new and radical designs which may or may not have a chance of being produced.

Credit cards: What the banks must doThe Reserve Bank of India has asked banks not to charge excessive interest rates on personal loans and prescribe a ceiling rate on small advances, a move that will benefit lakhs of card users.

Gates, Bloomberg pledge $500m to battle tobacco epidemic Microsoft co-founder Bill Gates and New York City mayor Michael Bloomberg have pledged $500 million to fight tobacco use in developing countries. The Bill & Melinda Gates Foundation is going to invest $125 million in the course of the next five years, while Bloomberg intends to boost his commitment to his Initiative to Reduce Tobacco Use from $125 million to $375 million in four years.

Inflation eases to 11.89%HCL BPO chief executive officer Ranjit Narasimhan speaks about the BPO sector, the challenges faced by the industry, and the steps that are being taken to retain and train talent.

World's top 10 consumers of oilThe globe uses up almost 82 million barrels of oil every day, or 30 billion barrels per year, and the consumption is constantly growing by the day, with economies like India and China growing at breakneck speed.

Of Buffett's mistakes and wisdomFor an active investor tracking the stock markets, Warren Buffett needs no introduction. Reams and reams of paper have been consumed in trying to explain the man behind the phenomenon.

Why India might overtake ChinaI>t has only been a few years since Asia bulls have been touting the arrival of the Chinese Century, citing that nation's enormous potential.

July 17, 2008

India's largest private sector port opensUnited Progressive Alliance Chairperson Sonia Gandhi on Thursday dedicated the country's biggest private sector port at Krishnapatnam in Nellore district, opening a new gateway to South India through the East Coast.

Inflation at 13-year high; soars to 11.91%Inflation today shot up to a 13-year high of 11.91 per cent fuelled by rise in prices of petrol, diesel and cooking gas, giving no relief to the government from the spiralling prices in an election year.

The spectacular BMW WorldThe main function of BMW Welt is to serve as a highly personalized delivery point of new cars to their owners

All you wanted to know about financial planningFinancial planning is the process of assessing the financial goals of a client that arise at different intervals in his life, taking into account an inventory of the investments and other assets he already has to help him achieve those goals and estimating what he will need in the future.

How BPOs check data theft, hire staffHCL BPO chief executive officer Ranjit Narasimhan speaks about the BPO sector, the challenges faced by the industry, and the steps that are being taken to retain and train talent.

Surat weaving units in trouble, face closureIt's a double whammy for Surat's weaving industry. At a time when workers are demanding a wage revision, several weaving units are likely to close down following a glut in the grey fabric market after processing houses cut production by 30 per cent.

Honey, they shrunk Sachin!A growing list of brands is dropping Sachin Tendulkar. Is this the onset of sanity in celebrity-related advertising?

Indra Nooyi on the New IndiaLast month Indra K Nooyi, PepsioCo's first lady Chairman and CEO, became the first lady chairman of the United States India Business Council, a forum that has worked tirelessly to improve the India-US business relationship for more than 30 years. This is the speech the Chennai-born Nooyi delivered at the USIBC's annual meeting

World's 10 most expensive watchesWhile some people might consider luxury watches an extravagance, for many, designer watches are a perfect way to show off their wealth.

July 03, 2008

Now, a vending machines to sell smart cars!Japanese manufacturers of smart cars - hybrid vehicles about half the size of the regular saloons that need lesser space to park - have come up with a new concept to woo prospective buyers.

From Rs 50 to a Forbes billionaire!P N C Menon, chairman of the Rs 1,500-crore Sobha Developers Ltd, is one of the few dollar-billionaires in India. This is his amazing story.

India's airlines run into rough weatherPrice hikes on the back of rising fuel costs have led to a dip in customer demand. Expect another round of consolidation in the beleaguered Indian aviation sector.